D¢¢uSign Enwop& ID." E5CD7797-37EC41DLW91-AC68A7E99F20 THE MITIE FOUNDATION IA company limited by guarantee) ANNUAL REPORT & FINANCIAL STATEMENTS 31 MARCH 2022 Company Regislfatlon Number 08107587 Charity Number 1148858 *AB6TPkKQ" 1511112022 COMPANIES HOUSE AJ8 #18 Dowsign Etwdopa Kl". ￿cD7797.y7EC4•DD-A59l-AC6a47E99F20 THE MITIE FOUNDATION FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 Conlents Pag Trustees, Annual Report Reference & Administrntive Information Independent Examinerfs Report 10 Statement of Financial Attmfies Batance Sheet 12 Cash How Statement 13 Notes to the Finan￿ Statements 14- 18 C4ti>J&w ID." E5CD7797.37EC41DD-i591-ACW7EW20 THE MITIE FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2022 The directorsltrus¢ee5 pre5eJit their ann￿ report and financial statements of The Mitie Foundation ("the Foundltion'l for the year ended 31 March 2022. This report and the finan¢iaF 5titernents have been prepared in accordance with the Pr?￿S1On$ applicable to small ¢ompanie5 entitled to the Smal ¢ompanies' exwnption and in accordance ￿th the accountin¥ polKies Set out on page$ 14 and IS. The lerdl and adrnbni5trative detsils 5e¢ out on page 9 form part of this reptsrL The financial statements comply with the currtnt statutory requirements. the Foundation's memorandum and article5 01 association ant1 the Statdnent of Recommende¢J Praeuce FRS102. The finanoal statements have been prepared ¢Jnder thè historical c05t ronventitin. in accordance with applicab￿ accountin¥ standards and the Companies Att 2006. Strncturei governanc• and management The Foundation is a company limited by guarantee and its dirertors. for the purposes of company law are also ffu5rees for the purpose5 of chartcy law and those who served dLbring the year and ro date are shown on page 9. For the purposes of thi5 report they will be referred to as tru5tee5. The Foundation was incorporated on 15 June 2011 rezistered as a charity on 6 Sep￿Mber 2012 and began its aetivities on l April 2013. On appointmen¢ new trustees sign a model fru5Tre dedarnion sutemenE confirniin8 their elbgibility and tommitting them to grving their Time and expertisi New rrustees are fully briefed on the objec¢ive5 of the Foundation and their role as trus¢ees. They are alw provided ￿th a copy of the Charity Commission Guidance for trustees arml a copy of the Foundatyon's memornndum and arti¢les of assoaation. Trustees give th￿r time Voluntarity and receNe no remuneration or other benefit5. Truste¢s are required to disclose am relevant interests and withdraw from decisions where a ¢onfii¢r of interest arises. There must be a minimum of two trustees but no more than nine. Up to three tnjstees miy be appointed by Mitie Group FAC {"Mitie"I by way of Writt￿ notice to the Foundation. All current trus¢ee5 have been appointed by the deciston of trustees. The trustees are responsible for deterniining the 0¥￿1 s¢ra*zy of the Foundation. howevèr they delegated Manager1￿ oversight responsibilt¢ie5 to Jasmine Hudson. Key management personnel are determined to be the trustees and the Head of the Foundauon. A$ Foundation staff are seconded to The Mitie Foundation from Mitie Group pk: no staff. induding key management personnel are directly paid by The Mitie Foundation. EmployThent b•)efits lor the seconded Hvdd of the FoLmdatio a5 key man3gemenL are determined through internal Mitie Group plc pay review processes. The trustees have considered the major ri5k5 to vknich the Foundation 15 exposed. Th•w hav• been reviewed and Systems and procedures have been established to manage those risks. Docu&w EnveSJFe I￿. ESCD779747EC41DN5914C6&47EW20 THE MITIE FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2022 Obje¢tlv•s and activities The Foundation's vision is to rdise a5piration5 and unlock people'5 true potenti￿. The objectives of the Foundation. a5 set out in its artides of as50ciauon, are broad alk>wing the clwity ro carry on any charitable activity within the law. Currentty the Foundation has three main objecriyes: To enhance employability Suppor¢ comrnunity through Volunteering Provide sustsinable Employinent opportunities for underrepresented groups Due ¢0 the impact of COVID-19 there was as shift from face ¢0 face ro virtual deploymenL COVID- 19 re5tricwons b￿nE h'fted there is now a mtx of face to face and virtuab de￿0Yrnent EnhanlT platform. The variety en5urns we can offer an txcitsng range of impactful volunteering options. Mitie has made a significant fiye-year pledge by committing to 8.000 employee volunteering hrs during financial year 20121. Increasing to 23.680 hrs by 24125. The target for FY21f22 w35 12.400 hours thi5 was surpassed wth 14.6SO volunteering hours being registered. Full 5-year breakdown belovr. Year Target hours Athieved FY20121 FY21122 FY22123 8,000 12.4CQ 16.320 8,098.SO 14.650 5.577* E22 FY23124 FY24125 20.720 23.680 NIA NIA Colleagues are also encoura¥ed to in enwe in fundrnising attivities. raising finances for community initiative5 and charity partner5. The planning and delNery of fundrdi5in8 ac(iviue5 delivered in Mit ¢ime also contributes tOW3rds Miue's volunteering objectives. Providing Sustslnablt Employrntnt To encourage talent from the Foundation initiatives and partners. we are riow better linked with Resourcing for both volume and specialist roles acr055 the Miue Business. Via our applicant trath'ng System. eArcu. we have launthed a private career page ava41able On￿ to partnered referral providerslcharities. ￿plIcationS made from Mirie Foundation partiupants are now identifiable at "source" on eArcu and Nwll automaticalby be moved into "review" 5¢aws. As a hiring manager we ask that all Foundation applicants who meet the minimum criteria are offered intrrvitws. Now (Jur recording prow5es are fully launthed and accurdw we can actÉYeiy trad( froln applirntion to day one starc across the business. These outcomes are measured through the Foundation dashboard showing our Foundation candidates from day one ol xarbng in role. The dashboard share5 morbthly data Mth our Senior leader5. ensuring transparency and awareness. and can be accessed at teamlaccount level. By engaging wth the Foundaiion's iniriatives and utilising the tslent pool we lknu&"gn EnwGP¢ ID." E5C07797.37EC410W1-ACM47E99F20 THE MITIE FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2022 provide. we on di¥ersrfy our workforce and improve socd rn0￿.11￿ wthin the communities we operate. Social Value Champions A netsvork of over 18 Social Value Champions across all Mitie bu5ine5s dr¥isions has been established to help ¢0 communir4ts the Foundation's acrtvities and Social v￿Ue. Many of these ambassadors are a150 involved in supportyng Mitie forums dÈsw)ed to 5UPPOrt diversity and indusion and have been oryanised into local network5 and effecrtvety att a5 the Foundation's voice wthin the busine55es. encouraging their workcolleague5 and in some cases their dients to tske part in organised volunteering events. Public benetlt The trustees have referred to the guidance conthned in the Charity Commission's generdl gwdance on public benefit when reviewing the FOUndat￿￿n.$ aims and obiective5 and in planning fu¢ure ac¢ivives. In particular the trustees consider how planned activities will contribute to the Foundation's aims and the objectyves they have set and have therefore comPl￿d the duty in section 17 of the Charities Act2011. Taking into account the Foundation'5 achievements and beneficiaries as described below. the trustses confirm that due regard been paid to the public benefit guidance published by the Charity Commission. Ach&evem¢nt5 and perforniance Following a restru¢ture of the Foundation. the team have agreed and delNered a new Strategy and focu5 ¢0 becoming more ali¥ned to th* Mitie business and its Social Value commivnents. supporting 3 of the S core Social Value pilkars. the Foundauon PrO￿￿e quarterly updates to the Social Value & Responsible Business Committeq chwred by Baroness Philippa Couttie. Below are examples of artivities during FY22. wthin the Foundation's Core Pillars. Enhancing employability With the restrittions following the COVID-19 pand•mic easing. delivery of Ready2Work programmes were resumed. Q l & Q2 delivery being adjusted to adhere to rhe ongoing restrictions at the time. Dewls of the Pro Read 2Work Securi Read 2Work London Read 2Work Enable Read 2Work ro mmes delivered can be found below. Location Candidates com Manchester London Birmin hèm Manthester ramme eted Into em lo 83% ent% 34% Kick Start Scheme Our kickstart (andidate5 completed thÈir prozramme in November 2021, seeing 9 of I I complete with 8 positsve outcomes. D￿$Van Eth¢bpo ID.. E¥CD779747EC41DN59IAc68A7E￿20 THE MITIE FOUNDATION TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2022 Candidatt I Candidate 2 Candtdate 3 Candidate 4 Returned to tull time education Adminjstrator for Mitie Seajri Athninistrntor for Mitie Communitie5 Facilities Assistant for Mitse Centrnl Government & Defence ed externall Recrvi¢ment Lead for MitTre Busirtess Services excernall ed extern￿1 interyiewin Candidate 5 Candidate 6 Candidate 7 Candidate 8 Candidate 9 Curren The total amount following the complerion of the Kickstarr Programme ￿ £18.360.98. including the initial set up payment and grant surplus. Option5 for how this could be invested will be presented to the Foundation trusrees on 24th Jan￿ry 2022. Giving Back- supporting the community thrY•u8h volunteering Volunteering Year 2 target 11400 hours- 14,650 hours achieved (118% target) Big Mitle Spring clean The Big Mitie spring clean delivered 3.C(K) volunteerin8 hour5. Collwes acr055 the UK took p3rr in local litters pick5 in March 2021 dearing rubbish from the communities they proudly live and wor Career Ready Career Ready are a Social Mobihty d￿rity thxE acti¥efy t¥gets Khoo15 in di5advantsged 3rea& provtding an opportunity for all students to fiourish. The pro¥ramme contain5 2 key elemen Mentoring 12 months. january- December l- I meetings, a blend of & f¥e to (ace A 4wèek Paid Internship Between June and Juty (Summer Holidays) . Paid at Foundation kn'ving Wage £9.90 ￿ (£1 1.05 London) I S intern5 joined Mitie in the summer. opening their eye5 to the tAriety of roles available in Facilities Management Royal 8ritish Legion- Poppy Appeal In keeping with our commirment to fhe Armed For￿. coNeagues up and down the country volunteered their time to support the Rordl Briu5h Ltyon at their City Poppy Day fundraiser5. Do￿SEn Envthpo ID." E5CD7797-37EC41DD45914C66A7E99F20 THE MITIE FOUNDATION TRUSTEES. ANNUAL REPORT YEAR ENDED 31 MARCH 2022 Collecting donations lor Ukraine Teams across the busines5 SUPPOrted ¥arious appea15 to help Ukrainian refugees. In Macclesfield the Northwest team within Bu5ines5 Services aeaning used their volunteering day w ¢ollert donatrons from site-based aper4¢rves and management teams. DO-IT launch DO-IT our employee volunteering platform. houses thousands of volunteering opportunive5 and is the process for recording impact. D￿lT VAS piloted with volunteer leads across the business in February and thty) fully Ihvn¢hed in March. Fundraising Total £237. 781 was raised for good (auses Tht Mitie Ball 2021 eveni ddivered by the Technical services kotland team raised £42,221 in aid of the NSPCC and Cancer Researth. The event attended by approx. 190 people, whith induded Mirie employee5. supply chain and customers. Mitie made a Corporate donation of £20,ODO rts charity Beam to support wi¢h the Afghanistan Mitie made a corporate donation of item5 to the valut of £47,500 to charity Care4Calais. The donation included: I CO)0 fabric masks- £IOk 21NJO x l(X)ml bottles of sanitizer- £1 500. and 629 x 5 liter bottle5 sanityzer- £36k Mitie colleague5 rnised £14.000 for Macmilan Cancer Support by deh'vering lo￿ Coffee Mornings The above tundraising wa5 rJisetJ by Mitie Group pk employee% and all money rKetved went directly to the re$pert￿t organisavon and not via the fo￿￿atIOn. Providing Sustainable Employment With metrics now in place to capture Ftyjndation hires. March'5 report ¢vtden¢ed we have achièved 68% ofour 200-colleyue benchmark in FY221135 hires). Via the new ATS we tan Zain fvrther insights to the ipplica¢ion proce5& highlizhting key areas of "breakdown" in applicari¢)ns, such as incomplete profile5 or requests for rejectyon from hiring managers. Thi5 enables the Foundation to offer addition support to 19 on young people. The funds received were used to support an additional tt•ntrdtt to help with delr¥ery of programmÈs. Do￿&"0￿ Envekw ID.. E5CD779Y.37EC4100-A591AC6&47E99F20 THE MITIE FOUNDAnoN TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2022 Trustee8' responsibilitles sLitement The Iruscees (who are also directors of The Miue Found•Don for the purpose5 of company lawl are responsible for preparing the Trus*es' Report {incorporating the Strn￿£ repory and dir￿tOrS. report) and the financi￿ statements in accordance with applicable Liw and Uni¢ed Kingdom Accounting Standar¢Js, induding Financial ReporrinK Stan¢Jard 101- The Financial Reporting S¢andard applirabk in the UK antl Republic of Ireland (Unired kn"ngdom keep￿ Accountin8 Prac(1￿). Company law requires the trustees to prepare financial sta¢ements for each finarttial year which give a true and fair view of the Sla￿ of affairs ol the charitable company and of the income antl expendsrur4 of the charitable company for that period. In preparing these financial statwnents, the trustees are required to.. selett suitsble accounting policies and them con5is¢enty, observe the methods and principle5 in the Chan"ties SORP,. make jud¥ments and accounring esti))ates that are reasonable and prude sute whether applicable UK kcounring Stand¥ds have been followed. 5ubjec¢ to any material departures di5c105ed and expkn'ned in the financial Sts￿ments: and prepare the finantial rtarements on the going concern basis unless it is inappropriate to presume that the charittble company Mll continue rn business. The trustees are responsible for keeping adequate accounting records that di5c105e wi¢h wsonable accuracy at any time the financi￿ position of the charitable company and enable them to ensure that the financial statements comply with the Companie5 Act 21￿. They are ￿50 responsible for safeguarding the assets of the charitable company and hence for ttkn.ng reasonable steps for the prevention and detection of fraud and other Èrre8ularitie5. In 50 far as the ¢rustees are aware: there is no releyant audit infomiatiM of which the charitable company'5 auditors are unawar and the tnjstees have taken all steps that they ouBhtto make tiiem5efves avnre of that inforniation. Pursuant to Section 487 of the Companies Act 2006. the auditor will be deèmed to be rexppointed and Burton Sweet will therefore continue in office. 7 Novembtr 2022 Approved bythe Board on........................... arKI signed on i￿behalfbY'. 4F¢44$138IU6411.. jasmine Hudson Do¢uSvJn Envdope ID". E5CD7797-37EC410￿￿Sgl-AC￿7E99FZ0 THE MITIE FOUNDATION REFERENCE & ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2022 Dlredorsifru8tees aroness Philippa Couttie Andrew Eastwood Rebecca Pdulkiner Jasmine Hudson Pradyurnna Pandit Navinder Kalley Andrew Buckley Michael Gibson Appointed 20 May 2021 Appoint￿ 20 May 2021 pointed 24 January 2021 resigned I l May 2022 Appointed 26 September 2022 The trustees have delepted managtrd over5"Lght of thè Mroe Foundation tojasmine Hudson. Secretary Mitye Cornpany secretar￿ Service$ Limi¢ed Registered office Level 12 The Shard, 32 London Bridge Streel London. England, SEI 9SG Company number 08107587 Charity number 1148858 Bankers Lloyd5 Bank pk 55 Corn Street 8risToI BSI IHT Solicitors Osborne aarke 2 Temple Back East Temple Quay Bristol BSI 6EG Independent Examiner joshua Kingston 8Sc ACA Burton Sweet Limited. Chartwed A￿oUntan[S The Clock Tower 5 Farleigh Cour¢ Old Weston Road Flax Burton Bristol B548 IUR En¥dcye ID.. E5C07797.37EC41D￿AS91-Ac6al1EYS￿2o THE MITIE FOUNDATION INDEPENDENT EXAMINER'S REPORT YEAR ENDED 31 MARCH 2022 Indep•ndtnt txaminèr's report to the tru5t¢es of The Mltie Foundatbon ('the Compan I report to the tharity trv5tee5 on my examination ofthe accounts ofthe Company for the year ended 31tt March 2022. Responsibilities and basis of report As the charitys trusrw Of the Company (and a150 rts direcwrs for the purposes of company lawl you are re5pons¢ble for the preparation of the account5 in accordance the requirements of the Companies Act 2r￿6 {'the 2tsJ6 Att). Having saii5fied myself that the accounts of the Cofflpany are not required to be audited under Part 16 of the 2006 Act and are eliible for independent examinarion. I report in re5pea of my examination of your charity'5 accounts as carried out under section 145 of the Charities Att 2011 {'the 2011 Acr,). In carrying oui my examination I have followed the Dire￿10n5 given by the Charity Commission under section 145151 Ibl of the 2011 ACL Independent examine￿$ statsment I have coMple￿d my examination. I confirm that no matter5 have come to my attention in ttlnnection with the examination me ause io believe= accounting records were not kept in respect of the Company as required by section 386 of the 2006 Att.. or the accounts do not accord those record5,' or the accounts do not compty with the accounting requirements of 5ettion 396 of the 2006 Act other than any requirement that the accounts wve a 'true and fair view whi¢h is not a matter considered as part of an independent examination., or the accounts have not beerh prepared in accordance with the method5 and principle5 01 the Statement of Recommended Prdcuce for accounting and reporting by charities applicable to charities preparing their accounu in accordance wth the Financial Keportmg Standard applicable in the UK and Republic of Irdand {FRS 102). I have no concerns and have come acros5 no other maryer5 in connettion with the examination to whith attention should be drawn in this report in order to enable a proper understanding of the account5 to be reached. Jos ingston 8Se ACA on Sweet Limited. Chartered Attountants The Clock Tower S Farlwgh Court Old Weston Road Hax BourLon Bristol 8S48 1 UR Date: ??2 10 Dc¢uSvJn Envdtye ID". E5C0779747EC41otM591A￿7Eg9F2o THE MITIE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI YEAR ENDED 31 MARCH 2022 Tolal Funds 2022 Total Funds 2021 Note Incom• from". Donations 227,626 160.151 Total income 227,626 160 151 Exponditure on: Charitable activities 174,215 160,384 Total expenditur• 174,215 160,384 Net incomel(expenditure) and net movement In funds 53.411 1233) Total funds at slart of year 10 37,967 38,200 Total funds at end of year 10 91.378 37,967 There are no recrynised gains or losses for the cutrent or preceding year other than as staled in the Statement of Financial Activities. The results for the period are wholly attributable to continuing operations of the Foundation. Ail movement in funds tn the year and prior year are in unrestricted funds. The notes on pages 14 to 18 form part of these financial statemgnts 11 Qor)JSKJn En¥¢W ID.. ESC0779747EC.4100.A591.AC6&47E9 THE MITIE FOUNDATION 8ALANCE SHEET AS AT 31 MARCH 2022 Company nuM￿r. 08107587 2022 2021 Current as8ets Debtors Cash at bank and in hand 248 98,567 41,380 98,815 41.380 Liabilitieg Creditors .' amounts falling due within one year (7,437) 13,413) Net current assets 91.378 37,967 Total assets less current Ilabilltles 91.378 37.967 Net assots 91,378 37,967 Funds of the ¢harity Unrestricted funds 10 91.378 37,967 Total funds 91,378 37,967 For the year ending 31 March 2022 the company was ents'tted lo exemption from audit undef seebon 477 of the Companies Act 2006 relating t9 small companies. Oirectors, responsibili¢i•s: The members have not required the company to obtain an audit of its accounts for the year in question in accordance wlh section 476. The directors acknowledge their responsitj'lities for complying with the requirements of the Act with respect to accounting records and the preparats'on of accounts. These accounts have been prepared in acccrfdance with the provisions applicable to companies subject lo the small companies, re9ime. These financial statements of The Milie Foundation were approved by the Board of Trustees on 7 November 2022 and are signed on their behalf by: OF¢44$1J82014¥1.. Jasmine Hudson Trustee The notes on pages 14 to 18 form part of these financlal statements 12 Dotusw Envdw IO. ESC07797-37EC41D[￿AS9laC86A7E9￿F2o THE MITIE FOUNDATION CASH FLOW STATEMENT YEAR ENOED 31 MARCH 2022 2022 2021 Net cash Inllow from operating activitles 57.187 {5521 Investing activities Programme related inve$trnent repayments 4,418 Net cash Snllow for the year 57,187 3,866 Reconcillation ol net movement in funds to net cash inflow from operatlng activStle8 2022 2021 Slalemenl of Financial Actmties.. Nel movement in funds Increase l {decreasel in credilors_' current liabilrties Decrease I (increase) in debtors Programme related investment impairment pr0wsion1written￿ff Net cash {outflowylnflow from operating aclivities 53.411 4.024 1248) 12331 99 418 552 57.187 Analysis of changes ID cash during thg year 2022 2021 Change Cash at bank and in hand 98,567 41.380 57.187 2021 2020 Change Cash al bank and in hand 41.380 37,514 3,866 Cashflow Restrfctlon$ Charity law prohibits the use of nel cash infiows on any end¢)wed or other restricted fund to offset net cash oufflows on any fund outside its own objects, exeepl on special authority. In practice, this rtstrictton has not had any effeel on cash flows for the year. The notes on pages 14 to 18 fomi part of thgse financlal statemgnts D￿￿gn Env8k)pe10.. E5CD7797J7EC41DM591AC6&47E99F20 THE MITIE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 1 Accountlng pollcles Basis of preparation The financial slalemenls have been prepared in accordance wlh the histoTKal cost convention and in accordance wth the Slalement of Recommended Practice.. A¢counb"ng and Reporting by Charities preparing their accounts in accordance with the Financial Rep)rting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102} and the Companies Act 2006 and UK Generally Accepted Practice as il applies from 1 January 2019. As more fully detailed in the trustees, rep)rt. the Trustees consider that there are no rnalerial uncertainties affecting the ability of the charity to continue as a going concem and the financial stslements have therefore been prepared on the going concern basis. The charity is a public benefit enlily as defined under FRS102. The principal accounting policies are summarised belcw. They have been applied consistently throughout the year and the preceding year. In¢om Income is included receivable. Incorne from lax that can be reGiw'med on donations is incluLled at the same time as the 9ift lo ￿lch it relates. Income comprises ot. Donations Donations are included in the Statement of Financial Activities ￿en the charity is legally entitled lo the income. when the amount can be quantified with reasonable accuracy and receipt is probable. Donated s8Thices and f8ci1it￿s Donated sermces and facilities represents the estimated ffnanGial cost t*)rne by Mitie in providing seconded stsff and other management and administrative $eMces. This value repre5ent5 the amount that the trustees would pay on the open markel for the servsces and facilities that would provide equivalent benefit to the ¢harily. Exponditure Expenditure is included in the Statement of Financial Activities on an &GnJals basis when incurred and includes attributable VAT which cannot be recovered. Expenditure eornpri$e of the foll¢)wing'. Charitable expenditure- being those costs incurred by the charitab￿ company in the delivery of its activities and service$ for its benef￿laries. Grant fundin9 of aetivib'es - included within eh•ritable exponditure. these are awarded lo fvrther the purposes of the charity. Grants awarded - treated as expenditure and a liability in the accounts as s￿n as they become legal or constructive obligations. In the case of mulli-year grant awards. the funding for all years is immediately recognised unless there are condrtions which need lo be mel by the recipient to enable the release of subsequent year5, fvnding. Support cost$ - being ¢osts of an indirect nature nerEssary to support the actiwties of the charitable Company. Govemance costs - being eo$ts asswi*ed wilh meeting the ¢onslitutional and statutory requirements of the Charity. 14 Oocusw Envdope ID.. E5C07797.37EC41DO-A591AC68A7E99F20 THE MITIE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 1 Accountlng pollcies (conlinugd) Programme related investments Programme Telaled investments are initialty induded on the balance sheet at cost. The carrying value is reviewed for impairment on an annual basis. Fund accounting Unrestricted funds are expendable al the discretion of the TnJsle6s, in the furtherance of the objects of the charity. Debtors Trade and other debtors are recognised at the setuernenl amount due after any trade discount offered. Prepayments are valued at the amount prepaid after laking account of any discounls due. Cash and cash equlvalents Cash at bank and Cash in hand includes cash and short term highly I￿Uld inveslments vthh a short maturity of three months or less from the date of acquisition or opening of the dep051t or similar account. Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that sMII probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or e$timaled reliably. C￿ditorS and provisions are normally recognised at their settlement amount after allowng for any discounts due. 2 Income Irom: Donalions Total Funds 2022 Total Funds 2021 Donated services and facilities trom MitJ"e General donations 172,585 55,041 227.626 160.151 160.151 All donations received in the prior year we unrestricted. 15 DctuSyJn En￿Ope ID.. E5CD779747EC41DD-A591AC68A7E99F20 THE MITIE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 3 Expendllure on: Charitable acltviti Total 2022 Total 2021 Employee Costs Travel and subsister Other support costs Governance costs Subscriptions Grant funding.. Big Issue Invest Tech for Good Challenge Local Donations Bad Oebts Expense 125,476 22,887 4,368 10.442 14,453 120,566 23.556 3,272 3.433 9.975 1418} 830 (4,2411 174,215 160,384 4 Net in¢omel(expendlturel for the year This 15 slated after charging.. 2022 2021 Independent Examiner'$ remunerab.on Prior year overlunder accrual of fees 3.660 1131 3.433 No Trustee re¢eived any remunerat1￿ or travel expenses in respect of their serwces during the year {2021.' None). Aggregate donations from Trustees, key management personnel, and other related parties was £Nil12021.' £nil). 5 Staff costs and numbers The Foundation doe$ not directly employ any stsff. h¢)ww on average, three Mitie Group PIC employees were seconded lo the Foundation during Ihe year12021'. three}. Stsff costs relating to these seconded staff were as followE.' 2022 2021 Wage$ & salaries Social secLJrity costs Pension contributions 103.679 11.816 8,380 99,481 12,549 7,895 123.875 119,925 The total employment benefits reeeNed by trustees and seconded key management personnel for their services lo the charity were £123.95712021'. £117.509} in the year. No employee received emoluments of more than £60.000 in the current or prior year. 16 DouJ&gn Envekipe ID". E5CD7797.37EC41DW1-ACW7E99F20 THE MITIE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 6 Taxation The charity 1$ exempt from corporation tax on its charitable actiwties. 7 Programme related investments 2022 2021 Al start of year Repayments Balance written-off 18,654 14,418) 114,236} The Investments balance rewesents loans made as of the Big Issue Invest Tech for Good challenge. The agreement allows for repayments to cease completely should the ￿mainIng social enterprises cease trading. A decision was made by the Trustee$ to write-off the remainin9 balance after a Provision wa$ made in the prior year. 8 Debtor8 2022 2021 Contract Hire 248 9 Credltors: amounts falllng due withln one year 2022 2021 Trade creditors Ac¢rua15 and deferred income 57 7,380 3.413 7,437 3,413 17 OocuS*n Envebpe ID.. E5CD7797-37EC41DI)-A591AC68A7E99F20 THE MITIE FOUNDATION NOTES TO THE FINANGIAL STATEMENTS YEAR ENDED 31 MARCH 2022 10 Movement in lund$ For the year ended 31 March 2022 At1Apr 2021 At 31 Mar 2022 Income Expenditure Unrestricted funds General funds 37.967 227,626 1174.2151 91,378 Total funds 37,967 174.215 91.378 For the year ended 31 March 2021 At1Apr 2020 At 31 Mar 2021 Income Expendituro Unrestricted funds General funds 38.200 160,151 1160,3841 160.384 37,967 Total funds 38,200 160,151 37,967 11 Related party transaetlon¥ The Foundation has a related party relationship v￿th Mitie Group PIC r'mitie'l as Milie has the power to appoint up lo three board mernbers lo the Foundation. Addits"onally, eight of the eighl12021.' six of the six) trustees aetNe in the per￿d to the date of signing the a¢counts were erther employees OT directors of Mitie in the year. Mitie are the major funders of Foundation. and the Foundats'on second their operational staff from Milie. During the year the Foun¢Jalion received donations of £nil {2021.' £nil} and gifts of setvices, staff and facilities of £172.585 {2021- £160.1511 from Mit￿. At the end of the period £nil12021.. £nill was due from Milie and £nil12021.' £nill was hdd wthin creditors as an amount ac¢rued to Mits"e. There were no further related party transactions in the year or prior year other Ihan reu>rded elsewhere in the accounts. 12 Capital commltments The Foundalv)n had no Capital commitments as al 31 Mar¢h 202212021.. None). 13 Liability of members The Milie Foundation is a company limited by guarantee. In the event of wnding up, the maximum amount guaranteed to be eontribuled by each member is £1. 18